Summary of Crypto King Aiden Pleterski
• Accused of misleading investors by promising investments in cryptocurrency and foreign exchange, raising $41.5 million
• Spent 38% of funds raised ($16 million) on personal expenses such as private jet rentals and luxury cars
• Kidnapped and tortured for three days while his captors demanded a ransom of $3 million
Details Behind the Crypto Scam
Crypto investor Aiden Pleterski, once praised as the “Crypto King” by his associates, is being accused of misleading investors into believing that he could offer returns from investing in cryptocurrency and foreign exchange. According to a bankruptcy trustee report filed earlier this year, Pleterski managed to raise an astonishing $41.5 million from these investors. However, bank details show that only a fraction of this money was invested ($670,000). Instead, it appears that around 38% ($16 million) was used for Pleterski’s own extravagant spending — including lavish vacations and high-end cars.
Kidnapping, Torture and Ransom
In December 2022, court documents reveal that Aiden Pleterski was kidnapped in the middle of the night by unknown assailants. During his three-day captivity he was subjected to torture and beatings while being driven around Southern Ontario. His father testified to the bankruptcy trustee that they received a ransom call demanding $3 million for his release — during which time Pleterski pleaded with them for his life. After three days he was eventually released by his captors without harm.
Impact on Investors
The bankruptcy filings state that only $25 million worth of creditors have come forward looking for repayment — suggesting those who had invested the other $16 million may be seeking alternative forms of justice beyond legal channels. In a statement given to the court regarding his failed investment scheme, Pleterski said: “I guess you could say greed took over…”
The case against Aiden Pleterksi is still ongoing but it serves as an important reminder to always do your own due diligence when investing — especially when dealing with large sums or risky assets like cryptocurrencies. It also highlights how cybercrime has become increasingly sophisticated over recent years with perpetrators using tactics such as kidnapping and ransom demands to attempt to cover their tracks or silence victims who might expose them publicly.